LONDON, 1 November 2012 - BullionVault users now own more than 1 million ounces of physical gold bullion between them, reports wealth-management magazine Wealth Adviser.
Targeting private-wealth and family-office managers, Wealth Adviser is published by GFM Limited, the largest online news publisher serving institutional investors and wealth managers.
The one million ounces of gold now owned by BullionVault users equates to more than "10 times the weight of bullion featured in the iconic film The Italian Job," says the magazine's report.
Fifty per cent of BullionVault users live in the UK, it goes. "The typical user owns around £10,000-worth of gold bullion. Buying and selling starts from one gram at a time, costing £34.33 at Wednesday's 3pm London Gold Fix price."
BullionVault economist Ben Traynor says: "Record low interest rates mean most people's savings aren't keeping up with inflation. As a result, more than 20,000 people in Britain have now formed their own 'self preservation society' by buying gold on BullionVault.
"By defending the value of their savings since the financial crisis hit, BullionVault users have also put themselves in a position to invest in growing businesses and support recovery once this crisis finally works itself out."
You can read the full report at Wealth Adviser...
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